Since President Trump returned to office, tariffs have once again dominated economic policy discussions. Recent headlines have highlighted escalating trade tensions with China, renewed disputes with Canada and Mexico, and the ongoing controversy surrounding Trump’s proposal to repeal the CHIPS Act—a $52 billion semiconductor initiative that enjoys wide support in Congress as essential for U.S. technological independence.

But while tariffs capture public attention, beneath these headlines is a much broader debate over America's industrial strategy—how the nation can rebuild its manufacturing base, ensure economic prosperity, and strengthen national security in an increasingly competitive global environment. Critics argue that the shortcomings of recent attempts at industrial policy, such as the CHIPS Act, prove why government can’t outperform free markets.

Our guests today have a different view.

Marc Fasteau and Ian Fletcher of the Coalition for a Prosperous America authored a new book, Industrial Policy for the United States: Winning the Competition for Good Jobs and High-Value Industries. They argue that a bold, comprehensive industrial strategy is not only achievable but essential—calling for targeted tariffs, strategic currency management, and coordinated investments to rejuvenate American industry and secure the nation's future. But will their approach overcome the challenges of bureaucracy, political division, and international backlash? And can industrial policy truly deliver on its promise of economic renewal?

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